AMC and Imax have signed a deal to deepen their business ties. What this signifies is that AMC and Wanda Cinemas, while technically different companies (though with shared ownership) are increasingly becoming indistinguishable with regards to cinema business policies. I bet they even buy popcorn kernels from the same vendor, even if they don’t put out press releases about it.
IMAX Corporation IMAX, +2.03% (IMX) and AMC Entertainment Holdings, Inc. AMC, +1.43% today announced an expansion of the companies’ existing joint revenue sharing arrangement with the addition of 11 IMAX® theatres. The theatres, which will carry 13-year lease terms from the date of installation, are expected to be installed in 2015 in cities that include Chicago, New York, Newark and Phoenix. Today’s agreement brings AMC’s total IMAX commitment to 159 theatres and reinforces its position as the largest IMAX exhibitor in North America. LINK
India’s much reviled Chief Censor has been indicted for corruption. You couldn’t make this up, but it highlights what a rotten mess Indian bureaucracy is when a ‘babu’ with a railway background (!) is put in charge of a body like the Central Board of Film Certification (CBFC). It is worth remembering what a let’s-clean-up-this-cinematic-filth-style moralist Kumar was when he was first appointed to the job.
The CBI arrested Central Board of Film Certification (CBFC) CEO Rakesh Kumar in an alleged bribery case on Monday.
Last week the CBI had registered a case against Kumar and also arrested an authorized censor agent and an advisory panel member of the CBFC for demanding a Rs 70,000 bribe on the behalf of the CEO to urgently clear a film from Chhattisgarh.
The CBI had conducted search on Kumar’s residence last week and had recovered Rs 10.50 lacks cash, gold jewellery and property documents. LINK